Powertech Uranium Corp.

Powertech Uranium Corp.

February 26, 2010 14:25 ET

Powertech Uranium Corp.: Updated NI 43-101 Technical Report for the Centennial Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 26, 2010) - Powertech Uranium Corp. ("Powertech" or the "Company") (TSX:PWE)(FRANKFURT:P8A) is pleased to announce the results of an Updated National Instrument 43-101 Technical Report (the "Report") for the Centennial Project, located in Weld County, Colorado. The Report was authored by W. Cary Voss, an independent professional geologist retained by the Company. Mr. Voss was also the co-author of the Company's initial technical report on the Centennial Project in March 2007. The Report identifies a 1.2 million pound increase to the total uranium resource base for the project since the publication of the previous technical report in June 2009 and documents the classification of this resource base. Resources were categorized as Inferred Resources and Indicated Resources through the use of detailed GT (Grade of mineralized intercept (%) x Thickness (ft)) contour mapping of fourteen separate resource areas and the strict application of CIM Definition Standards for Mineral Resources and Mineral Reserves.

The Report describes the results of the Company's on-going land acquisition efforts, confirmation drilling programs and continued evaluation of historic exploration drilling data from Rocky Mountain Energy Company, which have combined to increase the project's total resource base. To date, at a 0.20 GT cut-off, Powertech has identified a total of 12,697,085 pounds of U3O8 within the property boundaries. 10,371,571 pounds of this total has been classified as Indicated Resources and are contained in 6,873,199 tons averaging 0.09% U3O8. 2,325,514 pounds are categorized as Inferred Resources and are within 1,364,703 tons averaging 0.09% U3O8.

This evaluation also applied a 0.50 GT cut-off to these resources, yielding a total of 8,762,336 pounds U3O8. At this higher cut-off, 8,120.866 of this total was classified as Indicated Resources, contained in 5,111,154 tons averaging 0.11% U3O8 and 641,470 pounds were classified as Inferred Resources, within 488,507 tons averaging 0.09% U3O8.

The author believes that the classified resources represent a significant uranium deposit and recommends that an independent economic evaluation to assess the viability of an in-situ recovery (ISR) mining operation at the Centennial Project should be undertaken.

The Report is expected to be filed and available shortly on the SEDAR website at www.sedar.com, and on the Company's website at www.powertechuranium.com.

This news release has been reviewed and approved by Mr. Clement, President and CEO of Powertech, under whose direction the company's operations are being carried out. Mr. Clement, P.G., MSc. is a Qualified Person as defined by National Instrument 43-101.

About Powertech Uranium Corp.

Powertech Uranium Corp. is a mineral exploration and development company that, through its Denver-based subsidiary Powertech (USA), Inc., holds the Dewey-Burdock Uranium Deposit in South Dakota, the Centennial Project in Colorado and the Dewey Terrace and Aladdin Projects in Wyoming. The Company's key personnel have over 200 years of experience in the uranium industry throughout the United States, and have permitted more than a dozen in-situ operations for production.


Richard F. Clement, Jr., President & CEO

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.

Contact Information